Major commodities continue to zigzag as they have fallen yesterday despite the rises from a day earlier.
Here is a summary of the main price changes in commodities and precious metals for May 19th:
Oil and Gas prices:
Spot oil price (WTI) declined yesterday by 1.66% and reached 98.44$/b; during May the WTI spot oil price fell by 13.2%.
Brent spot price also declined but moderately by 0.66% and reached 111.78$/b.
As a result, the difference between Brent and WTI inclined to 13.34$/b.
Natural gas price (Henry Hub spot) also decreased by 1.45% and reached 4.09$/mmbtu.
The Henry Hub future price fell by 0.48% to 4.1$/mmbtu; as a result the spread between future and spot price declined to 0.01$/mmbtu, i.e. contango.
Precious Metals prices:
Gold price also decreased yesterday by 0.23% and reached 1,492$.
Silver price also fell by 0.47% to end at 34.93$.
During May, gold prices decreased by 4.1% and silver price fell by 28.1%.
The EURO/ USD kept on rising yesterday by 0.42%, as the USD depreciates against the EURO. During May the EURO/USD lost 3.4% of its value.
A summary of yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):
For further reading (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for May 2011
- Gold and silver prices outlook May 2011 – what’s next for gold & silver?
- Oil prices Monthly outlook –May 2011